You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone / Prefer cell: 520-975-5207
Office: 480-948-5554 or email me walterunger@ccim.net. – What is a CCIM.
In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want me to get you the value of your property.
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Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
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By Audrey Jensen – Reporter, Phoenix Business Journal Jul 11, 2023
A developer is making big plans to set up a long-vacant property known as King Ranch in Goodyear for future development.
The 1,861-acre site is located just south of the Gila River and just across from the Golf Club at Estrella and the Sierra Estrella Mountains.
On July 10, Goodyear City Council considered a new development agreement with a potential buyer and developer for the site, King Ranch 2023 LLC, an entity that’s connected to New York-based Crown West Realty LLC. A vote on the agreement was to be held after a closed executive session but was postponed. Goodyear officials said Tuesday the rescheduled date for the vote has not yet been set.
The company, according to city documents, is expected to acquire the property and also apply to rezone and develop the site. Crown West Realty, which develops residential and commercial locations, did not immediately respond to a request for comment about its plans.
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The agreement gives assurance that the city will be able to provide 1,484 acre-feet, or about 483 million gallons annually through its 100-year assured water supply designation instead of requiring the developer to locate renewable water supplies.
Most Valley cities have assured water supply designations, which means they are able to provide 100 years worth of water within their service areas. If a developer secures water through a city, they do not have to obtain a 100-year assured water supply certificate through the state.
The city said in a report that it doesn’t currently have the water supplies to meet the 1,484 acre-foot demand for the property but anticipates that its modified designation will include additional supplies to support development of the site in the future.
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Crown West is expected to pay for the reservation of city water supplies over five years, while the cost of each acre-foot if paid in the first two years is $13,300. If the developer pays for the full 1,484 acre feet of water in two years, the cost would total nearly $20 million.
Crown West would have to pay for bridge construction
Additionally, the development agreement would also require Crown West to pay nearly $17 million for the cost of the completed Cotton Lane bridge since it will be a “primary source of access to the King Ranch property,” the city wrote in its report, adding that development of King Ranch “may not occur for years.”
A development agreement was previously approved by the city for the property that included a required contribution toward the cost of the Cotton Lane bridge. The new agreement will help resolve the ongoing dispute over the bridge costs.
Previous reporting by the Arizona Republic said the original plans for the King Ranch master-planned community were approved in the mid 2000s and had been in the works since at least as far back as 1999.
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The property was at one point slated for nearly 4,000 single-family homes, two commercial parcels, a community park and recreation area. But a housing slowdown at the time made it difficult for the builders to pay their share of the bridge, or about $14 million, prompting the city to fund and be reimbursed for construction of the bridge and other infrastructure, reports said.
Valley developer Steve Ellman, the former owner of the then-Phoenix Coyotes, acquired the property through an entity called HE Capital KR LLC, as well as $26 million in debt to the city, in 2007, according to media reports, but development never came to fruition.
Crown West is a subsidiary of New York investment firm Petrus Partners Ltd. and has other offices in Phoenix, Tucson, Denver and Washington. The current owner of the property is HE Capital KR LLC.
Just south of the property is the master-planned Estrella community, which was formerly called Estrella Mountain Ranch.
Correction/Clarification
An earlier version of this article incorrectly stated that a vote had been held on July 10 to approve the development agreement between Goodyear and Crown West. The vote was deferred un
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FROM ME: FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international
DISCOVER WHAT IS HAPPENING IN ARIZONA
History of Arizona from 900 BC – 2017 -Timeline.
What is a CCIM. In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want the me to get you the value of your property.
Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net
Click here to find out what is a CCIM:
CLICK HERE TO VIEW ALL MY LISTINGS.
Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
Walter Unger CCIM
Associate Broker
West USA Commercial Division
14350 N. 87th. Street, Suite 180
Scottsdale AZ, 85260
Phone: 480-948-5554
Cell: 520-975-5207
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Associate Broker
West USA Commercial Division
14350 N. 87th. Street, Suite 180
Scottsdale AZ, 85260
Phone: 480-948-5554
Cell: 520-975-5207
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
CLICK HERE TO VIEW ALL MY LISTINGS.
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
Check out my professional profile and connect with me on LinkedIn.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
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